Nikkei Set to Extend Losses as Tech Selloff, Oil Surge Weigh on Asian Markets

Japan's Nikkei 225 may extend Thursday's losses into Friday, with Asian markets facing a negative open amid rising oil prices and persistent pressure on technology stocks. The index plunged 1,713.40 points, or 2.65%, to close at a daily low of 62,907.84 on Thursday, reversing from a peak of 64,866.44. Losses were broad, hitting technology, manufacturing, finance and resource sectors. The selloff tracked Wall Street, where the NASDAQ dropped 2.60% to 26,008.86 and the S&P 500 fell 1.21% to 7,663.43, while the Dow edged up 0.02% to 52,867.98. Tech shares including Nvidia (NVDA), CoreWeave (CRWV), Meta (META) and Tesla (TSLA) fell on liquidity concerns tied to debt-fueled AI infrastructure spending. Crude oil jumped 2.25% to $99.34 a barrel on reports the U.S. and Israel plan a joint military operation against Iran after November midterms. Japan releases September CPI and preliminary October PMI data later today.